2.1. Meaning and Scope

Try these first

1. 1.

   What is arbitration?

   Hint

   Think about how disputes are resolved without going to court.

2. 2.

   Name one type of arbitration.

   Hint

   Consider where the parties are located.

3. 3.

   What is the primary outcome of the arbitration process?

   • Mediation Agreement
   • Arbitral Award
   • Settlement Statement

   Hint

   Consider the formal conclusion of disputes in arbitration.

4. 4.

   The Arbitration and Conciliation Act of 1996 minimizes judicial intervention. True or False?

   • True
   • False

   Hint

   Recall the differences between the 1940 and 1996 Acts.

5. 5.

   What are the differences in how the 1940 Act and the 1996 Act treat judicial intervention in arbitration? Provide examples.

   Hint

   Reflect on the impact of reduced intervention on arbitration efficiency.

6. 6.

   Analyze the importance of having a clear arbitration clause in contracts. What issues can arise from vagueness?

   Hint

   Think about how clarity prevents future disagreements.